Word: profitable
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Dates: during 1980-1989
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...Chicago institution's weakest units into another bank, already dubbed "Trashco" by Continental employees, which could then be declared bankrupt. Federal officials believe that the down-sized bank, relieved of troubled loans to debtors ranging from oil drillers to Brazil, could regain public confidence and earn a profit. Then, at some future time, the FDIC might be able to sell Continental and recoup some of its investment...
...greenmail ploy, an investor buys enough stock in a company to pose a takeover threat in hopes that the firm's officers will buy him out at a premium. Disney paid $297.4 million in June for shares held by Financier Saul Steinberg, who made a quick $32 million profit. St. Regis has been greenmailed twice, first by Sir James Goldsmith, the British industrialist, and then by Loews Corp., the hotel and movie-theater company...
...both fun and profit, Armand Hammer, 86, diversified his legendary business acumen into Arabian horses five years ago. The two top stallions of his 94-horse stable are the U.S.S.R.'s Pesniar and Poland's El Paso, both plucked from behind the Iron Curtain with the Occidental Petroleum chairman's patented blend of bucks and brass. Poland's Wojciech Jaruzelski at first refused to sell El Paso, which he called "a national treasure," but a million dollars from Hammer helped change the Premier's mind. Hammer was in Florida last week for a show...
...promise astronomical advances to book the tour. If Michael had decided to stay home and play with the animals in his private zoo, it is doubtful that his brothers could have pulled down an advance of almost $41 million for a tour or driven such tough bargains on profit participation in everything from T-shirt sales to stadium parking fees. Or got so much rotten publicity, either...
...returned (Tour Promoter Chuck Sullivan, chairman of the Manhattan-based Stadium Management Corp., insists the interest will not even cover the cost of processing them); that Sullivan is trying to get stadiums rent-free (in fact he is paying for some, and in any case local promoters stand to profit from a cut of concessions and parking...